In order to improve the quality of Google Maps, Google spent $500 million in 2014 to acquire Skybox Imaging and later renamed it Terra Bella. Google announced on Friday that it will sell its satellite imaging company Terra Bella to map start-ups Planet Labs.
According to a statement from the two companies, Planet Labs will acquire the Terra Bella business and its satellites, while Google will continue to license satellite imagery in its map products.
The two companies did not disclose the financial details of the deal.
However, sources pointed out that Planet Labs's acquisition of Terra Bella is lower than Google's previous $500 million, but the transaction amount is more than $300 million. The source also said that Google will become the major shareholder of Planet Labs.
The move indicates that Google's parent company, Alphabet, hopes to further control its budget through restructuring.
In the past year, Alphabet has cancelled solar drones that provide Internet connectivity, terminated Google Fiber Internet services, and slowed the pace of drone courier services. At the same time, the company also lost several executives.
Alphabet's earnings report last month showed that the company's last quarter "betting business" revenue was $262 million, with a loss of $1.088 billion.
All Black Solar Panel,Monocrystalline Solar Cells,Jinko All Black Solar Panel,Full Black Pv Panels
JIANGSU BEST ENERGY CO.,LTD , https://www.bestsolar-group.com